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FEATURED COMPANIES

North America forms a comparatively small market for probiotics on a global basis, accounting for an estimated share of about 18% in 2016. However, the demand for these products in the region is expected to register the fastest growth over 2018-2023. The United States is the largest probiotics market, with an estimated share of about 83% in 2016, and is also forecasted to be the fastest growing. This can be attributed to a greater acceptance of probiotic dietary supplements and focus on preventive healthcare in the region.

Market Dynamics

Prevention and cure of disorders such as lactose intolerance and inflammatory bowel disease are some of the benefits offered by probiotics, with rising health-consciousness levels and wider access to probiotic dietary supplements. The past decade has witnessed the launch of more than 500 food & beverage probiotic products, which have garnered exceptional acceptance. Some of the factors that lead to digestive disorders, bloating, and reduction in resistance to infections include poor and untimely diet, age, and stress levels. Studies have revealed that products enhanced with probiotics have been successful in moderating these conditions to a large extent.

Market Segmentation

The market is segmented by product type into yeast, lactobacillus, Bifidobacterium, and some other species of bacteria.

By application, this market includes food & beverage, dietary supplements, and specialty nutrients. The food & beverage segment is leading the market, owing to the health benefits associated with functional food ingredients. The dietary supplements segment is expected to grow rapidly during the forecast period. Further classification includes function type and end use. Functional food and beverages is the largest market, and dietary supplements is the fastest growing segment, with a CAGR of 8.2% during the forecast period. Function type includes regular, prevention of disease, and therapy.

Regional Analysis

The United States is the largest market for probiotics, followed by Canada. The major reason contributing to the growth of the market in the United States is the increasing population and the growing economies. The region is projected to register the highest CAGR of 7.04% during the forecast period.

Key Developments

February 2018- A 50:50 Joint adventure between Yakult Honsha and Danone released the latest variant on its signature probiotic drink, called Yakult Light.

August 2017 - DuPont invested USD 10 million to strengthen and embolden its current impressive position as a leader in the probiotics industry, allowing for increased pace of new product development and significantly improved delivery times on pilot material for clinical trials and customer evaluations.